Desert Commercial Bank Recruits Veteran Lender for Chief Credit Officer Post
Ronald Schmidt Joins Senior Management Team as Executive Vice President
May 21, 2009 3:41:00 PM
Copyright Business Wire 2009
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View Additional ProfilesPALM DESERT, Calif.--(BUSINESS WIRE)-- Respected Los Angeles-area banker Ronald Schmidt, formerly with Bay Cities National Bank in Redondo Beach, has been named Executive Vice President/Chief Credit Officer at Desert Commercial Bank (OTCBB:dcbc). He brings nearly 40 years of experience to the Palm Desert-based community bank, much of it in credit administration and loan portfolio management.
Mr. Schmidt has served almost 17 years as a chief credit officer in coastal Southern California banks, beginning in 1992 with Palos Verdes National Bank and later, at Peninsula National Bank. He took the chief credit officer reins at Bay Cities National Bank in 1995 and stayed until April of 2009, when he had the opportunity to be reunited with long-time colleague Tony Swartz, current President and CEO of Desert Commercial Bank.
The two executives worked together for several years in Alaska. Mr. Schmidt spent 17 years there as a commercial loan officer and manager at National Bank of Alaska, a $1 billion bank headquartered in Anchorage. He was later recruited by Alliance Bank to manage its special assets division, taking on responsibility for a $500 million loan portfolio created by the merger of five different banks.
At Desert Commercial Bank, Mr. Schmidt assumes responsibility for managing all aspects of credit risk and loan administration. The business bank's diversified loan portfolio includes a mix of construction, commercial real estate, agri-business and commercial/industrial loans. It is the only locally owned bank with locations in both Imperial and Riverside counties.
Mr. Swartz said, "Ron has extraordinary knowledge and experience in risk management modeling and systems, and that makes him a powerful asset in today's banking environment. We are pleased to welcome him to the team."
The Southern California native graduated from Chino High School. He went on to earn his college degree at Pacific Lutheran University.
Desert Commercial Bank reported assets of $146,046,000 as of March, 31, 2009, while deposits stood at $132,078,000. The bank maintains capital in excess of $13 million.
Certain statements in this letter, including statements regarding the anticipated development and expansion of the Bank's business, and the intent, belief or current expectations of the Bank, its directors or its officers, are "forward-looking" statements (as such term is defined in the Private Securities Litigation Reform Act of 1995). Because such statements are subject to risks and uncertainties, actual results may differ materially from those expressed or implied. These risks and uncertainties include, but are not limited to, risks related to raising additional capital, the local and national economy, the Bank's performance and implementation of its business plans, loan performance, interest rates, and regulatory matters.
Source: Desert Commercial Bank
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Desert Commercial Bank
Michael Shepherd
(760) 340-9300
Michael@theshepherdgroup.com
